40-acre industrial project planned near Raiders practice facility
A fast-growing pocket of Southern Nevada has another big project on the books.
Panattoni Development Co. has filed plans to build a 40-acre industrial project in west Henderson next to the Raiders’ under-construction practice facility off St. Rose Parkway, city documents show.
The project comprises three buildings totaling 850,080 square feet, including one that will span more than 614,500 square feet.
Panattoni, which is already active in west Henderson, announced that it acquired an additional 40 acres in the area and its plans for the new project last week.
It hopes to break ground in spring 2020 and finish the buildings by the first quarter of 2021, according to Panattoni partner Doug Roberts.
No users are lined up yet, he confirmed.
“The area will continue to grow, and we’ll be part of it,” Roberts said.
Developers recently have finished, started building or drawn up plans for dozens of projects in the west Henderson area at the southern tip of the valley, the Las Vegas Review-Journal found. One in particular, the Oakland Raiders’ future headquarters and football practice center, has received much of the spotlight, but others include apartment complexes, housing tracts, retail centers and, an especially popular option, warehouses.
Among those, Panattoni developed a 482,300-square-foot Smith’s distribution facility and is building a more than 600,000-square-foot Amazon distribution center.
California machine tool builder Haas Automation also plans to build a massive project in the area. Haas owner Gene Haas, who recently acquired 279 acres of land south of Henderson Executive Airport for more than $27 million, has filed plans to build 4.3 million square feet of commercial space there, including a 2.3 million-square-foot manufacturing facility for his company.
West Henderson isn’t the only part of the valley with new industrial space, as warehouse developers have flooded Southern Nevada with projects in recent years, often drawing up plans without users lined up first.
More than 24 million square feet of industrial space was completed in Southern Nevada from 2015 through 2018, and more than 13 million square feet is projected to be finished this year through next, according to figures provided last month by John Stater, Las Vegas research manager at brokerage firm Colliers International.
Overall, vacancy is tight as e-commerce distributors and other companies take space.
According to Colliers, the valley’s third-quarter industrial vacancy rate was 3.5 percent, down from 4.4 percent a year earlier.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.